Electrical House Market: Power Hub Pavilion | APAC 7.1% Growing by Australia, Singapore, Japan, South Korea, Taiwan
Electrical House Market Revenue is projected to exceed USD 2.3 billion by 2030
WILMINGTON, DELAWARE, UNITED STATES, January 29, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, The global electrical house (E-House) market was valued at $1.2 billion in 2020, and is projected to reach $2.3 billion by 2030, growing at a CAGR of 6.4% from 2021 to 2030.
E-houses, also known as powerhouses or prefabricated electrical rooms, encompass all the necessary electrical components, including switchgear, transformers, control systems, and auxiliary equipment, within a compact and secure enclosure. These modular units are custom-designed to meet specific project requirements and can be tailored for both indoor and outdoor applications, serving as standalone solutions or integrated into existing facilities.
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Asia-Pacific garnered the highest share of 35.5% in 2020, in terms of revenue, growing at a CAGR of 7.1%
Asia Pacific holds a significant share attributed to extensive industrial activities and infrastructure projects in countries like China and India.
North America and Europe also exhibit considerable E-house adoption, driven by stringent regulatory standards and the need for reliable power solutions in remote locations.
Major Companies
ABB, Axis Solutions Pvt Ltd, BMarko Structures Inc., Eaton, General Electric, Kasa Analgen, Panel Built Incorporated, Schneider Electric, Siemens AG, and TECO Corporation.
The E-house market is witnessing robust growth, propelled by factors such as rapid industrialization, infrastructure development, and the increasing adoption of renewable energy sources. Industries such as oil and gas, mining, utilities, and manufacturing are embracing E-houses to meet their power distribution and control needs efficiently. Moreover, the growing emphasis on modular and scalable power infrastructure solutions further amplifies the demand for E-houses.
E-Houses are designed to maintain a controlled environment for the installed electrical equipment. They are equipped with proper ventilation, cooling, heating, and insulation systems to ensure optimal operating conditions, protecting the equipment from harsh environmental conditions and temperature fluctuations.
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Concentrating electrical equipment in a controlled environment improves safety for personnel and reduces the risk of unauthorized access or accidental damage.
Prefabricated construction and modular design enable faster installation and commissioning compared to traditional on-site construction methods.
E-Houses can be easily relocated to different sites, making them suitable for temporary projects or situations where flexibility is required.
Electrical Houses (E-Houses) provide a practical and efficient solution for housing electrical equipment, facilitating power distribution, control, and protection in various industries and applications.
Both small and large projects in different sectors require e-house for power supply and transmission purposes. The role of e-house is gaining importance in several end-use sectors, owing to advantages such as easy installation, ease of transportation, and less space requirement.
In addition, it is a cost-effective substitute to traditional concrete block and brick construction that makes customers become more linear toward using e-house for power supply purposes.
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It is often used to reduce or eliminate the need for extended electricity outages in utility sector; thus, this factor is predicted to notably contribute toward the growth of the global market.
E-house requires trained professional to mitigate systematic errors caused during the operations, which hampers the growth of the electrical house market.
High maintaining costs associated with the use of e-house may restrain customers having less investment potential from purchasing e-house, which is expected to have a negative impact on the electrical house (e-house) market growth.
Increase in focus on emission and fuel economy has made customers more linear toward renewable energy units for power generation purposes, wherein e-house is widely used in renewable energy-based grids for power transmission applications.
The mobile substation type is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.5% from 2021 to 2030.
The industrial application segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.5% from 2021 to 2030.
The medium segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.5% from 2021 to 2030
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COVID-19 analysis
The electrical house (e-house) market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on electric utility, oil & gas, steel & metal, mining, heavy industrial, and other sectors.
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe.
Several companies have either shut down or shrank their operations due to the risk of infections among the workforce where electrical house (e-house) is used for power supply purposes.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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